MEO, Eni to Begin Drilling Offshore Norther Territory

MEO Australia Limited and Eni Australia Ltd (Eni), will begin drilling of appraisal well in the Blackwood area of the exploration permit NT/P68 offshore Northern Territory.

The well will evaluate the 2008 Blackwood gas discovery. The Blackwood gas field was discovered by the Blackwood-1 well targeting the Elang/Plover formation and encountered 48m of gross gas pay.

MEO has a 50% participating interest in the well which will be 100% funded by Eni including production testing. Eni has eighteen months from the date of election to drill the well.